21st Century Fox FY 1Q16 Earnings Call Notes

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21st Century Fox’s (FOXA) CEO James Murdoch on Q1 2016 Results

Empire’s viewers double when you take into account multi platform viewing

“Take for example the season two premier of our breakout hit, Empire. It reached nearly 12 million total viewers in live plus same day; a great number. But that figure more than doubles to 25 million when we look at 30-day multi-platform viewing.”

We’re getting better at monetizing non linear audiences

“It’s true that much of this viewership is monetized today at a lower level than what we would like, and as I’ve said before, the important thing is to grow the audience, and our capabilities with respect to selling that audience are improving. We’re on track to grow our non-linear ad revenue by around 40% this fiscal. This includes inventory across Hulu, VOD, FX Now, Fox Now, Fox Sports To Go and Fox Sports Digital.”

There’s potential for direct to consumer offerings

“we’re pretty excited about the innovation that we can bring to that marketplace, and we’re working hard across the board both internally when we think about developing are authenticated apps, potentially direct-to-consumer offerings, some of our competitors have been out there with those. We haven’t done that yet here”

IP will eventually allow for better ad targeting

“One of the great characteristics of an IP streaming TV business in the future is the ability to have that data, the ability to use that to improve your products and services and monetize the viewership and the audience in the right way with respect to pricing, the attention of the audience correctly either for them or for advertisers.”

There’s an increased scarcity of big live events

“I think the health of the sports advertising business is pretty good we’ve seen I would say pretty much across the board in our sports portfolio. I think it speaks to the increased scarcity of big live events, mass events that can deliver big audiences consistently.”